Corporate news

Resignation of Finance Director

30 June 2017

Aquatic Foods Group Plc (AIM: AFG), a leading Chinese marine foods and seafood processor and producer supplying to export and local markets announces that the Company's Finance Director, Po Ling Low, has resigned from the Company and will cease to be a director of the Company with immediate effect.

Ms. Low will continue to assist the Company with the finalisation and publication of its accounts for the year ended 31 December 2016 in the near term.

A search for a replacement has been initiated and further announcements will be made in due course.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

For further information:

Aquatic Foods Group Plc  
Dr. Wang Shaodong, Non-Executive Chairman Via Abchurch
   
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Tel: +44 (0) 20 3470 0470
Stuart Gledhill / Robert Wooldridge www.spangel.co.uk

Media enquiries:

Abchurch  
Julian Bosdet / Jenny Lee / Alejandra Campuzano Tel: +44 (0) 20 7398 7700
  www.abchurch-group.com
  AquaticFoods@abchurch-group.com

 

Notes to Editors:

Aquatic Foods Group is a leading marine foods and seafood processor and supplier based in China. The Group initially built its business through focusing on the export market (principally Japan under the "Kanwa Foods" brand), and subsequently established the "Zhenhaitang" brand in 2007 in mainland China to take advantage of the growing market driven by growing disposable income within the Chinese middle-classes and a more health conscious consumer base.

The Group benefits from excellent food safety procedures developed over many years which have helped the Group to build a strong track record of supplying its products into overseas markets. This track record has enhanced the perception of the quality and reliability of the Group's products in China and has allowed the Group to expand significantly into local markets as demand for seafood products has increased. In a market that has seen regular public health scares relating to food safety, the Group considers that its adherence to these standards to be a key strength. The Group has obtained the following key standards:

- ISO 9001 Quality Management System certification
- HACCP Food Safety System certification
- BRC certification; and
- Marine Stewardship Council certification

Aquatic Foods works with a network of distributors to effectively market its products in China. The Group has continued to grow its distributor relationships and now distributes its products in 16 provinces, municipalities and autonomous regions in China through 50 regional distributors. These distributors in turn sell the Group's products to sub-distributors and retailers, including supermarket chains and hypermarkets.

Further information can be viewed at www.aquatic-foods.com.

 

 

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